Veeva Systems Inc. (NYSE:VEEV - Get Free Report) has received a consensus rating of "Moderate Buy" from the twenty-seven brokerages that are covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell recommendation, eight have issued a hold recommendation and seventeen have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $253.96.
A number of equities research analysts have recently weighed in on the company. Stifel Nicolaus lifted their target price on Veeva Systems from $240.00 to $272.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Canaccord Genuity Group lifted their price objective on shares of Veeva Systems from $210.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. KeyCorp decreased their target price on shares of Veeva Systems from $285.00 to $255.00 and set an "overweight" rating on the stock in a research report on Wednesday, January 8th. Citigroup lifted their price target on shares of Veeva Systems from $281.00 to $307.00 and gave the company a "buy" rating in a research report on Monday, December 9th. Finally, Royal Bank of Canada boosted their price target on Veeva Systems from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, December 6th.
Read Our Latest Research Report on VEEV
Insider Transactions at Veeva Systems
In other Veeva Systems news, SVP Jonathan Faddis sold 1,694 shares of the company's stock in a transaction that occurred on Wednesday, December 4th. The shares were sold at an average price of $230.30, for a total value of $390,128.20. Following the completion of the transaction, the senior vice president now directly owns 8,061 shares in the company, valued at approximately $1,856,448.30. This represents a 17.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 10.50% of the company's stock.
Hedge Funds Weigh In On Veeva Systems
A number of hedge funds have recently modified their holdings of the business. Cardinal Capital Management boosted its position in shares of Veeva Systems by 0.3% during the 4th quarter. Cardinal Capital Management now owns 15,727 shares of the technology company's stock worth $3,307,000 after purchasing an additional 44 shares in the last quarter. Patriot Financial Group Insurance Agency LLC grew its stake in Veeva Systems by 0.7% in the third quarter. Patriot Financial Group Insurance Agency LLC now owns 6,924 shares of the technology company's stock valued at $1,453,000 after acquiring an additional 48 shares during the period. Tokio Marine Asset Management Co. Ltd. increased its holdings in shares of Veeva Systems by 1.2% during the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,307 shares of the technology company's stock valued at $904,000 after acquiring an additional 50 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in shares of Veeva Systems by 72.5% during the fourth quarter. MassMutual Private Wealth & Trust FSB now owns 119 shares of the technology company's stock valued at $25,000 after acquiring an additional 50 shares in the last quarter. Finally, CHICAGO TRUST Co NA raised its position in shares of Veeva Systems by 2.9% during the fourth quarter. CHICAGO TRUST Co NA now owns 1,880 shares of the technology company's stock worth $395,000 after purchasing an additional 53 shares during the period. Institutional investors and hedge funds own 88.20% of the company's stock.
Veeva Systems Stock Performance
NYSE:VEEV traded up $0.18 during mid-day trading on Friday, hitting $237.38. 649,151 shares of the stock were exchanged, compared to its average volume of 1,012,683. The firm's 50-day simple moving average is $224.48 and its 200 day simple moving average is $214.76. The stock has a market capitalization of $38.54 billion, a price-to-earnings ratio of 58.61, a price-to-earnings-growth ratio of 1.97 and a beta of 0.85. Veeva Systems has a fifty-two week low of $170.25 and a fifty-two week high of $258.93.
About Veeva Systems
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Get Free ReportVeeva Systems Inc provides cloud-based software for the life sciences industry. It offers Veeva Commercial Cloud, a suite of software and analytics solutions, such as Veeva customer relationship management (CRM) that enable customer-facing employees at pharmaceutical and biotechnology companies; Veeva Vault PromoMats, an end-to-end content and digital asset management solution; Veeva Vault Medical that provides source of medical content across multiple channels and geographies; Veeva Crossix, an analytics platform for pharmaceutical brands; Veeva OpenData, a customer reference data solution; Veeva Link, a data application that allows link to generate real-time intelligence; and Veeva Compass includes de-identified and longitudinal patient data for the United States.
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